Outlook on the Electric Heat Tracing Global Market to 2026 - Energy-efficient Solutions are Driving Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Electric Heat Tracing Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.

The global electric heat tracing market is projected to witness a CAGR of 5.04% during the forecast period to reach a market size of US$2.883 billion by 2026, increasing from US$2.043 billion in 2019.

Heat trace is an advanced electrical system that is used in maintaining or raising the temperature of pipes and vessels. Electric heat has also been known as tracing heat tape or surface heating. It comparatively uses cable designed and developed to offer constant wattage per unit of length, to get uniform heating pipes.

Electric heat tracing has its roots in several industrial applications ranging from oil and gas production and storage facilities, petrochemical plants, refineries, pharmaceutical production, power generation, water, and waste treatment plants, to food processing. Its use across industries helps factor the market ahead. Secondly, the shift from traditional heat tracing systems to these newer electric methods is another noteworthy driver. Along with it, the future potential of energy-efficient heat tracing systems will provide a push to the market in the years to come.

By type, self-regulating heating cables are expected to register the highest growth owing to their idealness for temperature maintenance and frost-prevention installations. By end-user, the oil and gas segment dominates the market. Heat tracing is used in the assistance of the further processing, freeze and storage protection, and transportation of various types of energy products in both downstream and upstream applications in the oil & gas industry. By geography, North America accounts for the largest share due to its climatic conditions and the growing industrial applications.

Growth Factors

Energy-efficient solutions

Electric tracing has been offering and providing the convenience and availability of installation and also offers extensive temperature control and efficient and productive utilization of energy. As these systems, do not require any auxiliary equipment, the total operating cost of the systems is lower compared to other systems. Moreover, the electric systems are an improvement over steam heat tracers as they can be used with non-metal or lined piping and vessels. Furthermore, steam tracing has various types of limitations such as poor temperature control and leakage of steam resulting in high operating costs, and high hot water system costs. Electric heat tracing is thus an optimal solution, through various industrial applications due to these advantages.

Manifold industrial applications

The oil and gas industry is one of the biggest end-users of electric heat tracing systems. Offshore applications of heat systems can help prevent winterization pipes, lay-down areas, helidecks, louvers, lifeboat davits, GPS, and communication antennas among others. While onshore application includes prevention of wax and hydrate formation on separators, test separators, lift gas systems, compressors, scrubber lift gas modules, fuel gas systems, and others. Electric heat tracing systems are also finding increasing demand from power plants. Plant elements requiring supplemental heat include pipes, valves, conveyors, lubrication systems, and lubricants that run through them. These heavy industries rely largely on these electrical heat tracers in their production processes which exert a positive impact on the market augmenting its growth during this period.

Restraints

The inherent cons of the electric heat tracing systems may pose as restraining factors of the market. While self-regulating cables have shorter circuit lengths and are designed for low temperatures, parallel constant watt cables cannot be used on plastic pipes. Moreover, the overlapping of the respective cables results in burnout and excessive heating and can damage and ruin the heat tracing system beyond repair. The installation of heat tracing systems for larger vessels and tanks is difficult and expensive as there is a massive amount of heat loss from these large systems. These limitations may put forth a challenge for the growth of the market.

Segmentation:

By Type of Heat Cable

• Self-Regulating Heating Cables
• Power-Limiting Heating Cable
• Parallel Constant Watt Heating Cable
• Series Constant Watt Heating Cables

By Method

• Electric Resistance Heat Tracing
• Skin Effect Tracing
• Impedance Heat Tracing
• Induction Heating

By End-User Industry

• Chemical
• Food and Beverage
• Energy and Power
• Oil and Gas
• Others

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Others
• Asia Pacific
• China
• Australia
• Japan
• South Korea
• India
• Thailand
• Taiwan
• Indonesia
• Others

Companies Mentioned

• Spirax-Sarco Engineering plc
• Danfoss
• eltherm GmbH
• BriskHeat
• Parker Hannifin Corp
• nVent Thermal LLC
• Bartec
• TE Connectivity

For more information about this report visit https://www.researchandmarkets.com/r/rmkj9a